Stock below Rs 100: Ashish Kacholia held small-cap stock hits fresh 52-week high ahead of its results; watch out!

The stock has rewarded investors with impressive multibagger returns over the past year, boasting gains of an impressive 127.60 per cent.

In Thursday's trading session, key benchmark indices experienced a modest decline of nearly half a percent. As anticipated, the Monetary Policy Committee (MPC) opted to maintain the policy repo rate at 6.5 per cent, while emphasizing a shift towards withdrawing accommodation. However, the policy announcement brought forth two noteworthy surprises. Firstly, the inflation projection for FY24 was upwardly revised to 5.4 per cent, a rise from the 5.1 per cent projected during the June MPC meeting. Secondly, in response to the potential risk posed by excess liquidity, the MPC made a decision. Effective August 12, 2023, Scheduled Commercial Banks (SCBs) will be required to uphold an incremental cash reserve ratio of 10 per cent on the incremental Net Demand and Time Liabilities (NDTL) between May 19, 2023, and July 28, 2023.

In the realm of financial markets, one Small-Cap stock commanded considerable attention from market participants on D-Street. This stock is none other than TARC Ltd. (The Anant Raj Corporation). Originating as a construction and contracting firm, TARC Ltd. has evolved into a prominent real estate development enterprise and landowner within the New Delhi Metropolitan Area. The company's impressive portfolio spans various sectors including Residential, Hospitality, Commercial, and Retail projects. Notably, the company's nomenclature underwent a change from Anant Raj Global Ltd. to TARC Ltd. in April 2021.

During Thursday's trading, the stock surged by nearly 5 per cent, achieving a fresh 52-week high of Rs 84 on the National Stock Exchange (NSE). Commencing at Rs 79.70, the stock briefly dipped to an intraday low of Rs 79.50, subsequently soaring to its zenith at Rs 84 during the day's trading. Investors should anticipate the company's quarterly earnings report for the period ending June 30, 2023, scheduled for release on Friday.

However, the most captivating aspect of this stock lies in the fact that distinguished investor Ashish Kacholia holds a notable 2.22 per cent stake in the company. Hence, prudent investors would do well to closely monitor developments surrounding this stock. Remarkably, the stock has rewarded investors with impressive multibagger returns over the past year, boasting gains of an impressive 127.60 per cent. 

Disclaimer: This article is for informational purposes only and not investment advice.